EvilReFlex, whose distinctive PS1-style jittering effect we featured last year, has since been working on recreating other authentic retro-style visuals in Unreal Engine 5 and sharing results with the public, giving everyone the opportunity to experiment with these.
The project has evolved into a collection of material nodes called UE5RFX, and in this demo, you can see not only the vertex jittering but vertex lighting, affine texture mapping with fake tessellation, dithering, PS1-style 15-bit color depth, and low resolution using screen percentage. There are also feature random vertex offsets, making the walls uneven, along with a fake sprite snap effect that causes the player mesh to "snap" to the view, mimicking the behavior of an 8-direction sprite.
Have a look at a few more UE5RFX retro effects: